Top 10 Colleges With the Best Financial Aid

Student loans represent one of the biggest financial burdens among millennial and Generation Z graduates. As of 2024, the average student loan debt amount was nearly $38,000 per person.

A generous financial aid package can lessen the burden of college costs on students and their families. In some cases, it may even eliminate the need for student loans altogether.

Explore our top 10 ranking of colleges with the best financial aid, factoring in other important considerations, such as net price and tuition.

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Yale University tops our list as the school with the largest financial aid package, offering students an average of $63,520 in 2022. The institution’s cost of attendance is one of the highest at $85,120 a year, however, students typically owe just 22% of that cost after financial aid.

Yale uses a sliding scale to determine how much families are expected to contribute. Families making $75,000 or less per year are expected to contribute 1% toward college costs, with the sliding scale rising for those with higher incomes.

If a family’s annual income is below $75,000, Yale covers 100% of the student’s cost of attendance.

Colby College earns the second spot on our list, as students are responsible for just 28% of the total cost of attendance after receiving financial aid.

Colby students who received financial aid were awarded an average of $61,710 in scholarships and grants in 2022, which leaves the net price at $16,950.

Saint Peter’s University has one of the lowest average net prices at $12,000 per year. While the financial aid amount sits far below the other schools at $35,260, the total cost of attendance is also significantly less at $59,300 per year.

Located in Jersey City, Saint Peter’s University is also one of the more affordable schools in terms of living costs.

For a more accurate prediction of costs, Saint Peter’s website provides a cost of attendance and net price calculator. Prospective students need to have their parents’ financial records, GPA, and test scores handy to complete the questionnaire.

While Saint Xavier University offers the lowest average financial aid amount ($29,890) of all the schools listed, it also has the lowest net price ($11,302) and cost of attendance ($50,920) on our list. Students can expect to pay around 32% of the total cost after financial aid.

Saint Xavier’s office of financial aid provides a chart outlining the average aid amount by family income. For more information, students can also register for one of Saint Xavier’s financial aid workshops.

Students who receive financial aid at Dartmouth College receive an average of $62,290 per year. With an average net cost of $19,210 per year, students can expect to pay roughly 32% of the leftover cost after financial aid.

Prospective students can use Dartmouth’s net price calculator to get a better idea of their specific costs.

Stanford University offers an average annual aid amount of $60,619, making it one of the most competitive packages. After financial aid, students can expect to pay around 33% of the total cost of attendance.

As with many top institutions, Stanford provides financial aid on a sliding scale. Families with a gross income of $100,000 or less pay under $6,000 a year as the cost of attendance.

Princeton University is one of the most expensive schools on our list, costing $80,420 per year. However, Princeton also awards one of the highest financial aid amounts leaving about 33% of the total cost after financial aid up to students.

As with other Ivy League schools, Princeton also offers financial aid based on a sliding scale. For families whose gross income is $65,000 or less, Princeton covers full tuition, room and board — a grant amount worth $77,240. With each increase in income, Princeton covers a slightly smaller percentage of the cost.

Wesleyan University’s total cost of attendance is $85,170, making it the second most expensive school on our list after Columbia University. Luckily, Wesleyan offers a large financial aid package to offset some of those costs, awarding an average of $59,830 per student.

The average net price is around $21,270. Prospective students can use Wesleyan’s MyinTuition calculator to estimate financial aid or the net price calculator to get a detailed estimate of the cost of attendance.

Columbia University has the highest cost of attendance on our list. But after financial aid, the average net price is around $22,060, leaving students responsible for about 34% of the total cost.

Columbia’s financial aid office conducts a financial analysis to build a financial aid package with no loans. The university promises to meet 100% of demonstrated financial need for first-year and transfer students.

Prospective students should note that Columbia’s location in New York City contributes to its high cost of attendance. A school’s location can heavily influence living expenses, such as food, transportation, and rent.

Amherst College costs around $83,650 a year but offers an average annual aid amount of $58,690. This means that students are left to pay around 35% of the cost after financial aid.

The liberal arts college prioritizes scholarships and federal work-study aid without any loans in its aid packages. Most graduates leave Amherst with little to no debt. Amherst also works with QuestBridge to attract talented, low-income students to the institution. QuestBridge students account for more than 10% of the student body.

Note: The percentage breakdowns in the first row refer to how we weighted each variable.